Janus: These 'Champion Banks' Are Long-Term Winners
Several European banks have proved their mettle amid the continent's financial turmoil and are well-positioned for long-run growth, says Janus Overseas manager Brent Lynn.
Greg Carlson: [Janus Overseas] also owns some key positions in European financials. Obviously, these were a big source of underperformance in 2011. Some of those have turned around in 2012. Can you touch on one or two of those?
Brent Lynn: Yes. The European financials have been a somewhat controversial sector because clearly they are at kind of the center of some of these sovereign balance sheet problems that the European countries have. They hold some of the European sovereign bonds, and they are just being in the middle of what is perceived as financial turmoil.
Greg Carlson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.